Our goal1
Capital appreciation
What we invest in
The Fund invests primarily in mid-sized U.S. companies selling at a significant discount to their expected value. The strategy can include investing in companies facing special situations, such as unusual or one-time developments, that make them attractive investments. Examples of these developments may include changes in management, acquisitions, reorganizations and restructurings.
Our approach
The Fund's manager uses a value-investment discipline, seeking to purchase securities selling at large discounts to a company's intrinsic value (the value of all the qualitative and quantitative aspects of the company’s business). Quantitative measures include the company’s ability to generate excess cash flow, earn high returns on capital and allocate capital efficiently. Qualitative factors, such as an assessment of the company's products, competitive position, strategy, industry dynamics and regulatory frameworks, are also important.
What should I know before investing?
Equity securities are subject to price fluctuation and possible loss of principal. Fixed income securities involve interest rate, credit, inflation, and reinvestment risks; and possible loss of principal. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. International investments are subject to special risks including currency fluctuations, social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. The Manager's investment style may become out of favor and/or the Manager's selection process may prove incorrect; which may have a negative impact on the fund's performance. The fund may invest in high yield bonds, which possess greater price volatility, illiquidity, and possibility of default.
Meet your Legg Mason Capital Management manager
Sam Peters, CFA, is your Fund's portfolio manager, and he has over 18 years of investment industry experience.
He's part of Legg Mason Capital Management (LMCM), Legg Mason's valuation-driven investment manager. LMCM offers investors six distinctive investment strategies. Founded in 1982, LMCM uses an exhaustive research process that focuses on challenging market assumptions, blending classic valuation analysis and traditional and nontraditional learning.
Legg Mason's unique structure provides you with access to this specialized expertise, offering a powerful portfolio of solutions through our independent investment management firms.
Category: Mid-Cap Core Funds
Rankings Details >
| CLASS | NASDAQ | CUSIP |
| A | LMSAX | 524904505 |
|
| C | LMASX | 524904109 |
|
| FI | LGASX | 524904307 |
|
| I | LMNSX | 524904208 |
|
| R | LMARX | 524904406 |
|
Past performance is no guarantee of future results. Each fund is ranked based on average annual total returns assuming reinvestment of dividends and capital gains, distributions, at net asset value and the deduction of all fund expenses. Each fund is ranked within a universe of funds similar in portfolio characteristics and capitalizations as defined by Lipper Inc. Rankings do not include the effect of the fund's sales charges. Results would have been less favorable had sales charges been included. A high Lipper ranking does not necessarily imply that a fund achieved positive results for the period. Lipper Inc. is a nationally recognized organization that ranks the performance of mutual funds.
Prior to October 5, 2009, the Fund was known as Legg Mason Special Investment Trust. The Fund's investment objective, portfolio managers and investment strategy have not changed. Please see the prospectus for details.
Morningstar ratings are only shown for those funds that have achieved a 4 or 5 star rating.Lipper Top Quartile rankings are shown for those funds that are ranked in the top 25% of their Lipper category.
1There is no guarantee that the Fund’s objective will be met.
Information on Sales Charges, Breakpoints, Sales Charge Waivers and Exchanges
Click here for more information about:
Class A shares:
- what are the front-end sales loads charged on the purchase of Class A shares
- how to qualify for reduced sales charges or breakpoints
- what kinds of accounts can be combined to qualify for reduced sales charges
- what waivers of front-end sales charges are available
Class C shares:
- what are the contingent deferred sales charges payable upon redemption
- what waivers of deferred sales charges are available
Exchange privileges:
- which funds are exchangeable
- what conditions are applicable
Other share classes may be available for which sales charges, breakpoints, sales charge waivers and exchanges may differ. Please speak to a financial professional or click on the link above.
Exchange Privileges: Many mutual funds that charge front-end sales loads offer a discount on the sales loads for a large investment. The investment levels required to obtain a reduced sales load are commonly referred to as "breakpoints." Typically, you may be entitled to a lower front-end load based on a single transaction if the dollar amount exceeds one or more breakpoints. In addition, some funds offer discounts based on purchases made over time, under a right of accumulation or letter of intent. The criteria for breakpoints for each mutual fund are set out in the fund prospectus and statements of additional information. FINRA issued an Investor Alert to ensure that investors better understand how breakpoints work and what you may need to know to make sure that, should you purchase shares eligible for breakpoints, you are charged the lowest possible front-end sales charge. Visit the
FINRA Website to read the FINRA Investor Alert.
Diversification does not assure a profit or protect against market loss.
INVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE
All investments involve risk, including possible loss of principal.Investors should consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information about a fund. To obtain a free prospectus, please view the product specific page on this website and click on the prospectus link. An investor should read the prospectus carefully before investing.All investment managers mentioned are subsidiaries of Legg Mason, Inc. Legg Mason Investor Services, LLC, is a subsidiary of Legg Mason, Inc.
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FINRA,
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